Headlines

Gap Inc. Reports April and First Quarter

First quarter sales growth softened by flat April month

Published

12 years ago

May 4, 2012

VMSD Staff

San Francisco-based Gap Inc. reports net sales for the first quarter of fiscal 2012 grew 6 percent compared with last year, and April 2012 net sales were flat compared with 2011.

First quarter comparable sales, which include the associated comparable online sales, increased 4 percent compared with a 3 percent decrease in the first quarter last year. For the month of April, same-store sales dropped 2 percent.

“We delivered a solid first quarter as spring product continued to do well across all brands,” says Glenn Murphy, chairman and chief executive officer of Gap Inc.

Among its brands, first quarter comparable sales results were:
•Gap North America: up 5 percent
•Banana Republic North America: up 5 percent
•Old Navy North America: up 4 percent
•International: down 4 percent

For the month of April, comparable sales results were:
•Gap North America: up 4 percent
•Banana Republic North America: up 1 percent
•Old Navy North America: down 6 percent
•International: down 6 percent

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design